Riley Keough, the granddaughter of Elvis Presley, has agreed to pay her grandmother Priscilla more than $1 million settlement to take over Lisa Marie’s multi-million dollar estate.
The 34-year-old has been at loggerheads with her grandmother since her mother’s sudden death in January.
In May, they reached a deal but no further details were disclosed.
Recent reports revealed that Keough had paid $1 million to Priscilla to take over the family trust. She also paid $400,000 to cover her grandmother’s legal fees.
According to The New York Post, Presley also lost the right to be buried next to her husband at Graceland.
Keough filed documents to finalize the arrangement regarding Lisa Marie’s trust, around five months after she passed away.
Her lawyers said the finalizing of the agreement would prevent ‘the spectacle’ of the family facing off through courts.
Justin Gold, Keough’s lawyer, said: “In settling the claims pending in Priscilla’s Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa’s wishes and not in the best interests of the family.point 405 |
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In a statement to The New York Post, Presley said that she did not sue her granddaughter.
“My family has resolved all confusion as it relates to our plea to the court and request for document interpretation after my daughter Lisa Marie’s untimely passing.
“Although the media identified such a plea as a lawsuit, I want to make clear that there was never any lawsuit filed against my beloved granddaughter.”
The grandmother continued: “As a family, we are pleased that we resolved this together. My family and I hope that everyone will grant us the privacy we have needed to properly grieve Lisa Marie and spend personal time together.
“We love and appreciate all of you and the Presley family is stronger than ever.”
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